October 22 ‘Broker Networking’ Event Focuses on ‘Wall Street and Commercial Real Estate’
Top
Story
No one would debate that the timing couldn’t be more on target. With the current financial markets turmoil certain to be on the front burner at the time, AIR is once again ahead of the curve as members and guests will receive a prime time update on conditions when Everett (Allen) Greer, senior vice president/director of research for the Real Estate Risk Assessment division of Bank of America, headlines the October 22 “AIR Broker Networking” event at the distinctive Pacific Club in Newport Beach.
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The event runs from 5:30 p.m. to 7:30 p.m. and is free. Complimentary cocktails and hors d’oeuvres will be provided for an activity that continues to win rave reviews from attendees both for the educational and camaraderie benefits it generates. The Pacific Club is strategically located at 4110 MacArthur Blvd. Parking is also free. |
In his key post, Greer manages the bank’s Real Estate Research web site, which provides associates throughout the bank access to nearly all major data sources for commercial real estate throughout the country. He has published numerous market forecast reports, served on commercial real estate risk rating committees and created various ad hoc market forecast/portfolio analysis reports. |
As always, AIR’s “Networking” events attract a strong lineup of valued sponsors who make these sessions possible. Set as sponsors for the next month’s event are Allen Matkins, Bank of America, Commerce Escrow Company, California Statewide, Master Development Corporation, and Orexco. To register, call (213) 687-8777 or visit www.airea.com. |
Court Confirms Broker’s Right to Commission
Member Benefit
In AIRWaves’ continuing effort to provide our readers with timely information vital to the success of AIR members, we are once again offering an article from Lee A. Dresie, who chairs the Litigation Group at the law firm of Greenberg Glusker in Century City. Dresie is also legal advisor to the AIR Board of Directors. We are hereby providing the introduction to the article. For the complete text, click the link provided.
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COURT CONFIRMS BROKER’S RIGHT TO COMMISSION WHERE CLIENT DEFAULTS UNDER PURCHASE AGREEMENT
Buyers and sellers often try to avoid paying commissions if the underlying transaction does not close. In an opinion released September 4, 2008, the California Court of Appeal has confirmed that a real estate broker is entitled to recover his commission even if the underlying transaction does not close where the failure is based on a default by the broker’s client. Importantly, the Court held that the right to the commission was not affected by the fact that the other party in the transaction did not file a lawsuit or otherwise seek or receive a judicial determination of the client’s default. Click here for remainder of article. |
Dedeaux’s Roots, Teamwork Big Keys
Member Profile
Valuing teamwork and having an intuitive feel for the distribution/logistics market borne of deep roots in that sector. You might say that defines Brett Dedeaux. |
Dedeaux is senior director of Binswanger/Realty Advisory Group, a provider of “service-oriented and experience-based solutions in the industrial and office real estate environment”. The company is based in downtown Los Angeles with offices in Woodland Hills and Newport Beach. |
| Dedeaux entered commercial real estate in 1996 when he joined Jim Abbott, executive director, at the time Abbott formed Realty Advisory Group. Dedeaux brought considerable savvy to the table and hit the ground running. This capability derives from Dedeaux’s invaluable schooling at the knee of his grandfather, Rod Dedeaux, arguably the most successful coach in college baseball history at USC. But, what many folks don’t realize is that Rod was the highly successful owner of a trucking and warehousing business, Dart Warehousing & Transportation. |
“My grandfather acquired many buildings to service his business. I gravitated to the business after listening to him deal with real estate; he loved it and I gained a similar appreciation,” Brett said. Today Brett is successful in his own right in representing many distribution and third party logistics firms, including such prominent names as long-time client UPS. “I cover a lot of areas from City of Commerce to Ontario as the distribution market has drifted east,” he notes. |
Meanwhile, Brett retains his family roots, currently overseeing three new industrial projects for the family firm, Dedeaux Properties. Recently that entity broke ground on a 70,000 square foot multi-tenant industrial building in City of Industry and has others pending in Rancho Cucamonga and Ontario. The marketing of these properties is handled through Binswanger/Realty Advisory Group. |
| In his day-to-day dealings, Brett stresses teamwork both with his Binswanger colleagues and the brokerage community at large. “I grew up valuing teamwork,” he said. |
It paid off. Among his most recent outstanding deals was Brett’s representation of Toys R Us in its sale of a 300,000 square foot distribution center in Irwindale to LBA Realty. Brett is currently marketing the building for lease on behalf of LBA.
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| A graduate of USC with a degree in Business and an emphasis on entrepreneurship, bachelor Brett resides in Santa Monica. In his leisure he enjoys golf, surfing and paddle tennis and travel. |
AIR
Member Deals
Orange County
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DAUM Directs $4.9 Million Santa Ana Sale
DAUM Commercial Real Estate Services has directed the sale of a 28,510 square foot industrial property in Santa Ana for approximately $4.9 million. Chris Migliori of DAUM represented the seller, Mehrdad Safari. Andy Friedman of Industrial Properties represented the buyer, Pacific Foods Distribution. The two-story freestanding industrial building is situated on a 1.9-acre parcel at 3431 W. Carriage Dr. and features 6000 square feet of high image executive office space.
• Voit Quartet Lights Up Tustin Lease
Mike Hartel, Kevin Turner, John Griffin and Jeff Mitchell of Voit Commercial Brokerage’s Irvine office represented both the lessor, CWV Commercial Properties, and lessee Access Light Corporation in Access’ 87-month lease on a 68,865 square foot industrial building in Tustin. Consideration was $4.3 million. The property is located at 1200 Valencia Ave. with excellent access to the 55 and 5 freeways.
Northwest Region
•Delphi’s Hoffberg Handles Lease to Digital Cinema Firm
David Hoffberg, senior vice president of Delphi Business Properties, Inc., represented Laser Vision Industries, Inc., the property owner, in its lease of a 15,808 square foot industrial building at 9631 Topanga Canyon Place in Chatsworth to Beaufort California, Inc. Consideration for the five-year lease was not disclosed. Cresa Partners represented Beaufort California, a member of Beaufort International Group LLC of the United Kingdom. The tenant recently acquired the Digital Cinema business of DTS, Inc.
Inland Empire
•Toyota Leases New Rancho Cucamonga Industrial
Colliers International has directed the lease of a new 11,629 square foot industrial building on behalf of Torrance-based Toyota Motors Sales. Located at 9050 Charles Smith Ave., the property will house Toyota Motor Sales’ regional training facility. Toyota signed a five-year lease at an undisclosed consideration. Rick Nunez, senior associate in Colliers’ Diamond Bar office, represented Toyota. Scott Ostlund and Barret Woods of Lee & Associates’ Ontario office represented Chase El Monte, LLC, the lessor.
A Quick
Bursts And Coming Events
Broker Networking Event -October 22, Orange County. The Pacific Club, Newport Beach; 5:30 p.m. FREE (see Top Story).
AIR “Orientation” – Friday, December 5, Marriott Downtown L.A. Hotel,
333 S. Figueroa St., Los Angeles. Brandon Burns, orientation
chair; Joseph M. Vargas, education chair, and Charles F. Noble,
MULTIPLE chair, presenting. Registration 8 a.m.; program
8:30 a.m. to Noon.
In-House Training - The AIR offers
training for CDX, e-MULTIPLE, WinAIR Forms, and AIRMail.
If a group of brokers or staff from your office would
like to have the AIR bring training to you in-house,
contact Martin Vartanian at (213) 687-8777. A number
of firms have already taken advantage of this great
service and been very pleased with the results.
Member Deals and Profiles - As soon as you
close a substantial deal, make sure you give Art Ansoorian
a call. Your deal will be featured in the next issue
of AIRWaves. Also be sure to get your personal bio over
to Art and be a featured member in the newsletter; it's
a great way for everyone to meet fellow members! Call
Art at (805) 653-1648, or email him at artpr@earthlink.net.
We Need Your Photos and Bios –
AIR is in the process of building its database of member
photos and bios. If you would like your photo and bio
to appear on the AIR website at www.airea.com,
please send them via mail or e-mail to Martin,
or if you have questions, call him at (213) 687-8777.
Tech
Tip
WinAIR Forms 2.0 - How
can I email a PDF version of the form?
Once you have
the form open, click on the printer icon above and
select the check box PDF and click OK. It will ask you
to name the file and save it. Once you click on save,
Proccessing PDF message will appear; as soon as the
message disappears the PDF file will be generated.
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